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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (114129)	5/23/2012 6:26:42 PM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

In NYC prices were dirt cheap in the early 1960's and the area had been built out by but pretty much tripled by 1980. After Reaganomics took hold it took off and tripled again by 1990 but then crashed and quickly right back up to the highs by 2001.Then it tripled again during the housing bubble. In Florida we also tripled in the 15 year period to 1980 but had modest appreciation during the 1980's and 1990's.. I think to Ted's point on prop 13 creating a widening gap that could be part of it but the gap also occurred in the big built out northeastern cities during a period of rapid changes in globalization and technology also being driven by finance like never before.

To: Bread Upon The Water who wrote (114129)	5/23/2012 6:43:16 PM
From: tejek	Read Replies (1) \| Respond to of 149317

I'm sorry I can't agree with that for the decades of the 70's. The trend of rising real estate values was in place around the Calif Coastal cities as all the buildable land had been used well before he adoption of Prop 13. And this led to the tripling of land values (the land scarcity) which led to the passage of prop 13. How did Prop 13 contribute to that trend in the subsequent decades? In the SF Bay area it was land scarcity that was driving the trend and forcing people into hour plus more commutes to find affordable housing. The Bay area is very different from the rest of CA. It was first with environmental laws and covers a much smaller geographic area. LA, Orange and SD counties are huge by comparison. They had lots of buildable land in the 1970s..............as did Sacramento, the Inland Valley and the Central Valley. For the rest of CA, Prop 13 was a major catalyst for the rise of housing prices.